It has been reported that Next will be facing some tough times this year, as the fashion retailer has seen a worse-than-expected festive season performance.
Commenting today, Next announced that sales decreased 0.4% in the 54 days to 24th December, whilst there was a 7% fall in end-of-season clearance sales.
Other figures show that for the year to January 2017, profits were estimated to drop 3.6% and could possibly fall by nearly 14% for the year to January 2018.
Next have also recapped a warning regarding cost pressures from the weakened pound since the EU referendum, which could see prices increase of up to 5%.
In a statement, Next said: "The year ahead looks set to be another challenging year; therefore we are preparing the company for tougher times.”
